The Warsaw Voice » Business » News - August 30, 2018
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PPK to boost capital market
Pawel Borys, head of PFR
Poland's capital market should enjoy an at least PLN 12 billion inflow annually from the savings gathered in employer-sponsored pension plans PPK from 2021, state investment vehicle PFR wrote in a press statement.
PPK "will give a strong boost to development of the Warsaw Stock Exchange," the statement read. "It is assumed that once all the groups of employees are included in PPK, the overall impact of PPK savings on the capital market should amount to at least PLN 12 billion."
On Augut 28 Poland's cabinet approved the long-awaited draft bill introducing PPK. The bill is to enter into force in January 2019 with a six-month vacatio legis, then roll-out implementation across the corporate sector.
In the impact study of the draft bill Poland said it expected PPK to potentially direct as much as PLN 15 billion annually to capital markets from 2021.
PPK will be introduced gradually and will cover all groups of employees as of January 2021. The biggest companies, employing over 250 people, will start participating in PPK as of July 2019.